FREMONT, Calif., Sept. 16 ArKal Medical, Inc. raised$17.5 million in a Series B financing round led by Thomas McNerney & Partners.Existing investors, Delphi Ventures and MedVenture Associates were alsosignificant investors in this round.
ArKal Medical is developing a novel continuous glucose monitoring systemfor the management of diabetes. ArKal's monitoring system is designed toeliminate many of the inconveniences of current glucose monitoringtechnologies.
"There is a lot of room to improve both convenience and ease of use incontinuous glucose monitoring in the management of diabetes. ArKal Medical'stechnology has the potential to make an important advancement and addresssignificant unmet needs in this market," said Pete McNerney cofounder andpartner at Thomas McNerney and Partners.
"We are extremely pleased to have the support of such a strong group ofinvestors and this latest infusion of capital is a positive endorsement of theCompany's team, technology and strategy. With this investment, we will fundthe next stage of corporate and product milestones," said Arvind N. Jina,Ph.D., President and Chief Executive Officer of ArKal Medical.
About the Investors:
Thomas, McNerney & Partners is a health care venture capital firm withapproximately $600 million under management focused on investing in lifescience and medical technology companies at all stages of development. Inaddition to helping entrepreneurs launch companies with seed and early stagefunding, the firm provides growth capital to emerging companies to advanceclinical development or for product commercialization. The firm has officesin Stamford, Minneapolis and San Francisco. For more information, pleasevisit http://www.tm-partners.com.
Delphi Ventures is a venture capital firm that has focused on early stageinvesting in medical devices and biotechnology for two decades. With morethan $1 billion in committed capital, Delphi Ventures has funded over150 companies. More than 90 of Delphi's portfolio companies have eithercompleted an initial public offering or have been acquired by a leadinghealthcare corporation. For more information, visithttp://www.delphiventures.com.
MedVenture Associates, founded in 1986, identifies and invests in newmedical technologies and the entrepreneurs developing them to create the nextgeneration of medical practice. For more information, visithttp://www.medven.com.Contact: Arvind N. Jina, Ph.D. Chief Executive Officer ArKal Medical, Inc. Telephone: 510-933-1950 Website: http://www.arkalmedical.com
SOURCE ArKal Medical, Inc.